Municipal Employees' Retirement System of Michigan, Lansing, hired LSV Asset Management to manage $300 million in a Russell 1000 Value Enhanced index portfolio and Delaware Investments to manage $200 million in active domestic large-cap value equities. Funding will come from terminating Barclays Global Investors, which ran a $500 million Russell 1000 Alpha Tilts fund, said Jeb Burns, CIO of the $4.8 billion plan. Mr. Burns said the closure of the BGI account "has nothing to do with BGI's performance, but rather (is for) manager diversification and sticking with our policy of placing active managers" on top of core passive and enhanced index strategies. Mr. Burns added that the MERS board would likely consider BGI's active and alternative strategies for future hires.